BTC profits plummet

27 Oct 2009

The Nassau Guardian reports that the Bahamas Telecommunications Company (BTC) recorded a USD20 million drop in net profit in 2008 to USD21.7 million, compared to USD42.8 million in 2007. The BTC 2008 annual report attributed the decline to increased operating expenses which included a hefty 15% pay increase for its workforce, as part of a backdated industrial agreement finalised last year. Revenues for the year fell USD3.5 million in 2008, although pre-paid wireless customers generated more than USD143 million, up more than USD7 million compared to 2007. However, post-paid customer revenues fell by USD5 million to USD33.5 million. BTC employs 1,255 full-time workers, according to the report.

Bahamas, Bahamas Telecommunications Company (BTC),

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